Rupee falls 4 paisa to settle at all-time low of 83.33 against U.S. dollar

Rupee hits lifetime low of 83.33 vs U.S. dollar on November 10, 2023; weak U.S. currency, rising crude prices and FII outflows cited

The rupee declined 4 paise to settle at its lifetime low of 83.33 (provisional) against the U.S. dollar on Friday, tracking an upward movement in crude oil prices and foreign capital outflows.

Forex traders said investors were awaiting industrial output and inflation data on the domestic front amid a weak American currency overseas and positive cues from equity markets.

At the interbank foreign exchange, the rupee opened at 83.28 and plunged to 83.49 against the greenback during intra-day.

It finally settled at its record low of 83.33 (provisional) against the dollar, registering a loss of 4 paise from its previous close. Earlier, the currency's lowest closing level was recorded at 83.32 versus the dollar on September 18 this year.

On Thursday, the rupee closed at 83.29 against the American currency.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.02% at 105.89.

Brent crude futures, the global oil benchmark, rose 0.81% to $80.66 per barrel.